Suncor Energy (TSE:SU) Sets New 1-Year High Following Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares hit a new 52-week high on Friday after Desjardins upgraded the stock from a hold rating to a moderate buy rating. The company traded as high as C$57.50 and last traded at C$57.46, with a volume of 580157 shares trading hands. The stock had previously closed at C$56.84.

SU has been the subject of a number of other research reports. Royal Bank of Canada upped their target price on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday. Raymond James boosted their price target on Suncor Energy from C$52.00 to C$56.00 in a research note on Thursday. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a report on Wednesday, August 7th. Scotiabank lifted their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday. Finally, National Bankshares lifted their price objective on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$61.54.

Insiders Place Their Bets

In related news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Stock Up 1.1 %

The firm has a market cap of C$72.97 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a 50-day simple moving average of C$52.61 and a 200-day simple moving average of C$53.10. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a dividend of $0.545 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a yield of 3.79%. Suncor Energy’s payout ratio is 37.46%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.